Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 97.7% | — | — | — |
| EBITDA margin % | 47.3% | 29.3% | 16.9% | 9.9% | 20.4% | 7.7% |
| EBIT margin % | 34.5% | 22.9% | 12.2% | 6% | 15.2% | 1.8% |
| PAT margin % | 10.9% | 7.7% | 1.9% | -3.9% | -1.7% | 5.9% |
| Working capital | ||||||
| Receivable days | 14 | 1 | 8 | 6 | — | — |
| Inventory days | 1 | 0 | 130 | 1 | 1 | 0 |
| Payable days | — | 5 | 205 | 9 | — | — |
| NWC days | — | -3 | -68 | -1 | — | — |
| Leverage | ||||||
| Current ratio | — | — | — | — | — | — |
| Debt to EBITDA | 2.06 | 2.3 | 5.53 | 13.86 | 7.93 | 23.66 |
| Debt to equity | 0.44 | 0.23 | 0.53 | 1.17 | 1.59 | 1.43 |
| Interest coverage | 2.2 | 2.5 | 1.6 | 0.7 | 0.9 | 0.2 |
| Asset turnover | 0.35 | 0.25 | 0.31 | 0.33 | 0.33 | 0.29 |
| Return ratios | ||||||
| Return on assets % | 3.9% | 1.9% | 0.6% | -1.3% | -0.6% | 1.7% |
| Return on capital employed % | — | — | — | — | — | — |
| Return on equity % | 5% | 2.7% | 1.1% | -3.3% | -1.6% | 4.6% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.